USING a fashionable ring on your finger is all it takes to make a payment.

Leaving home without your phone, card, wallet or cash will become possible in Australia with the rollout of the country’s first payment ring to “tap and go” on the run.

Mastercard’s senior vice-president of digital and new payment flows Matt Barr said this is just the beginning of far more innovative and fancy ways to pay in 2018.

Mastercard’s Matt Barr said the new payment rings will be easy for consumers to use.Source:News Corp Australia

As for security, anyone could pick up your ring and wear it to make a contactless payment of less than $100, but like a card, users need to be vigilant of where they leave it.

“We won’t take any solution to market where there are safety issues,’’ he said.

“In the case of the ring it’s going to be attached to a banking account and banks can put in controls where they can stop your card (or ring), make spending limits on accounts and in certain merchant categories.”